ORLANDO, Fla. — Rotech Healthcare reported its fourth quarter and year-end financials last week, and the company is pleased with its performance, President and CEO Phil Carter said in a release.
For the three months ended Dec. 31, net revenues rose slightly to $123.8 million compared to $123.2 million for the same period in 2009. For the year, net revenues grew to $496.4 million from $479.9 million in 2009.
In 2010, revenue-generating patients in the company's core product lines of oxygen and CPAP grew 8.2 percent compared to 2009, the release said.
"We continue to experience positive organic growth in our core oxygen and sleep therapy programs," Carter said. "In addition, we continue to identify equipment purchase opportunities from competitors exiting the home health care market. Using this newly acquired equipment, during the first two months of 2011, we have begun transitioning new patients. When fully implemented by the end of the second quarter, this process should contribute approximately $10.0 million of additional adjusted EBITDA on an annualized basis."